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BTCUSD → H&S breakdown. Triangle + Wedge. Waiting for growthThe BTC had previously formed the H&S reversal pattern, but it does not work and the bulls regain control of the 26700 level, forming a bearish wedge, which might provoke a bullish momentum. The price makes a false break-down of the level of 26700, which is a strong support and forms a consolidation above the line. The market is in a consolidation phase after an active rally. The fundamentals component of the crypto direction has been getting better news lately than just neutrals. It will take quite a while for Bitcoin to overcome the 28,000 area, which has long held the price back, the 30,000 level and the resistance of the uptrend channel. If the price moves out of the range, bitcoin will form a strong rally to 35000. A related set-up is forming on the daily chart: a triangle and a wedge. The resistance of the figures is similar and the support area is very different. But the fact that we do not see a fall after the rally gives us hope for more growth. MA-200 acts as a strong support and MA-50 as a resistance, which might be tested again soon. Strong support: 26700, 25400 (global level). Strong resistance: wedge resistance (triangle), 28200 I expect the continuation of consolidation in the range, but in connection with the prerequisites mentioned above, I assume that in the medium term bitcoin will continue its growth to 31000 and to 35000 Sincerely R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
37
CRVUSDT → The price is squeezed between the strong linesCRVUSDT forms the bottom in the area of 0.500-0.600. After that, a rally is formed, which turns into a strong consolidation in the area of trend resistance. The cryptocurrency pair after another retest forms a resistance breakout, but at the same time, the price is still on the upper boundary of the local pattern. In the near future, if the price successfully overcomes the area of 0.883, I expect an active strengthening of the price to the area of 1.112 with the subsequent movement to 1.891. CRV shows great dynamics on the background of the fact that after the rally, there was not a strong pullback, but a consolidation is forming. The price got a strong support at 0.818 and from the MA-200. MA50 is a resistance and the price might try to test it soon. Strong support at 0.818 and 0.770 Strong resistance: 0.883, 0.980, 1.300 I expect consolidation between 0.850 and 0.950 with further break through the resistance of the local wedge and growth to 1.890. Regards R.Linda!
Long
by RLinda
16
LTCUSD → Breakthrough of two-year resistanceLTCUSDT forms a resistance breakout after a small false breakout. The coin does not fall much after FB, forms a retest and breaks the line. Bulls are trying to take control of the situation and so far everything is working out successfully. A strong support line of 91.23 is being formed. If the bulls can hold this area, then Litecoin will show us an excellent growth towards the resistance of the ascending channel. The fundamental component for LTC is quite good, the network is constantly being updated and activity has been increasing in this network lately. A global triangle is forming on the chart, the price tends to test the resistance of the set-up. A slight pullback is possible, but in the medium term I expect a breakthrough of the upper limit. Moving averages act as support. Strong support: 91.23, previously broken resistance line and 83.66 Strong resistance: 95.00, 102.53 I expect the growth to continue after the resistance is broken. LTC in the market feels a certain confidence that can allow the price to get stronger. Sincerely, R. Linda!
Long
by RLinda
11
BTCUSD → H&S base retest. What can this lead to? Bitcoin forms the H&S pattern and for quite a long time the price is in the pattern realization stage, forming a flag, which, theoretically, can continue to fall. After breaking through the support at 26700 and updating the low to 25878, the price starts to reverse and forms a retest of the previously broken level. In this case, the market may test the future prospects of the H&S pattern. If the level of 26700 holds the price down, the realization of the pattern will continue and bitcoin may weaken to 25400. But, as it often happens, the market can break the essence of the pattern and deactivate it, but in this case the bulls will have to take the 26700 area under their control. Daily MA-50 acts as a resistance and the price can test this line in the mid-term. Daily MA-200 acts as a strong support. Currently, the price is consolidating at 26700 and near the key Fibo area of 0.382 at 26655. Consolidation tells us that this level is felt by the market and is a key link for the future outlook. On the weekly timeframe we see a correction after testing and false breakdown of the level 30261. The correction is directed towards the level of 25400, which plays a rather important role in the global outlook. Fundamental component: 1) Friday news for the US market plays into the hands and the flagship strengthens following the SP500 index 2) Coinbase - BTC may move out of its trading range in case of a US default 3) US presidential candidate, governor of Florida: "There will be no CBDC in the U.S. if I become president. BTC is a threat to the current regime." 4) Glassnode: the number of long-term holdings in various categories is growing Bitcoin is still looking good at the moment. This correction after a long rally is quite predictable and logical. We continue to follow the flagship and the designated levels. Regards R. Linda!
BITSTAMP:BTCUSDLong
by RLinda
28
XRPUSDT → H&S which can strengthen the Ripple XRPUSDT forms quite a long correction, which turned into a counter-trend movement after a false breakout 0.5590 was formed and the channel resistance was touched. The Ripple falls and tests the ascending support line, relative to which the "H&S" pattern is formed. A false breakout of the support line is formed and the price forms an impulse to the base of the reversal pattern. At the moment, the resistance at 0.4761 plays a key role, if this area is broken, the cryptocurrency pair will form a bullish impulse, within which it can reach the resistance at 0.5850. A global upward price channel is being formed. Moving averages act as support. Strong resistance: 0.4761, 0.4928, 0.5078. Strong support: downward pattern base line, 0.4620 Price is currently squeezed in the local range of 0.4761 and 0.4700. If the bulls hold the lower boundary of the range and start to test the resistance, then after the next retest we will see a breakout at 0.4761 with the following growth Regards to R.Linda!
Long
by RLinda
13